U.S. stocks rallied as voters headed to the polls on the last day of the presidential election and as more data piled up to show the economy remains solid

Collectively, Berkshire's record cash position and record stock sales are a historic warning for Wall Street. Buffett and his fellow investment managers are clearly struggling to find reasonably priced stocks. But individual investors should not misinterpret that warning as a reason to avoid the stock market. Here's why.